I'm buying my first flat in Shenley Brook End with the aid of help to buy. The developers would not move on the price so I negotiated 6k of extras instead. The property agent told me not inform my conveyancer about the extras as it could put at risk my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Shenley Brook End is the location of the property. What do you suggest?
Flying freeholds in Shenley Brook End are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shenley Brook End you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shenley Brook End may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In what way can the Landlord & Tenant Act 1954 impact my business offices in Shenley Brook End and how can your lawyers assist?
The particular law that you refer to gives protection to commercial lessees, giving them the legal entitlement to apply to court for a renewal tenancy and continue in occupation at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and help with commercial conveyancing in Shenley Brook End
I need to find a conveyancing solicitor for my conveyancing in Shenley Brook End. I've land on a site which appears to be the ideal answer If there is a chance to get all the legals completed via web that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Shenley Brook End. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Shenley Brook End ?
Most houses in Shenley Brook End are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Shenley Brook End in which case you should be shopping around for a Shenley Brook End conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.
I own a split level flat in Shenley Brook End, conveyancing was carried out 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Shenley Brook End with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease expires on 21st October 2084
You have 60 years unexpired the likely cost is going to be between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.